Estonian Kroon


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Estonian Kroon

The former currency of Estonia. It was issued in 1992, replacing the Soviet ruble. It was pegged to the deutschemark and then to the euro. In January 2011, the euro replaced the kroon.
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This delegation of monetary policy meant that instead of external devaluation by changing the exchange rate of the Estonian kroon to the euro, the government kept the peg and opted for internal devaluation, resulting instead in a cut in nominal wages.
The Bulgarian National Bank said in a statement that companies and citizens still using Estonian kroon after January 1, 2011, will be able to use the services of commercial banks, currency exchange bureaus, and other relevant financial institutions using the Estonian currency.
In just 2 years demand for the Estonian Kroon at our branches has rocketed by 143%, which mirrors the sudden emergence of the capital Tallinn as a favourite for stags and hens.
Not unlike the Bulgarian lev, the Estonian kroon was first pegged to the deutsche mark and then to the euro.

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